Nykaa, in its Q1FY24 results released on August 11, reported an 8% increase in total net profit to ₹5.4 crore compared to ₹5 crore in the same period last year. However, net profit attributable to equity shareholders decreased by 27% to ₹3.3 crore from ₹4.5 crore in the previous year.
The company’s Q1 revenue reached ₹1,422 crore, marking a 24% growth from ₹1,148 crore in the prior year. Total expenses for the quarter were ₹1,418.8 crore, a 22% rise from the previous year.
Q1 EBITDA showed a 60% YoY growth at ₹73.5 crore, with an EBITDA margin of 5.2%, up by 116 basis points from 4% in the previous year.
During the same quarter, Nykaa’s gross merchandise volume (GMV) increased by 24% YoY to ₹2,667.8 crore. Physical retail space expanded by 43% YoY with 152 stores as of June 30, 2023. GMV for the beauty and personal care segment also grew by 24%, while the fashion segment’s GMV saw a 12% increase in Q1 FY24, which was slower than its long-term trajectory.
On August 11, Nykaa’s shares on the BSE closed 0.34% higher at ₹146.25 apiece.